Plus500 founders halve holding

Shares in Plus500 (PLUS) have enjoyed a strong run during the past 12 months, almost doubling in value. And now, the spread-betting specialist’s five founders have banked some of those gains, selling an aggregate £146m in shares, representing 7.7 per cent of the total share capital, or half of their combined holding. A spokesperson for the group said the sale was in response to demand from institutional investors, highlighting Old Mutual’s (OML) purchase of a 5.4 per cent stake in the group. Meanwhile, Julian Judd, husband of chair Penny Judd, also bought shares worth almost £70,000 the following day.